LimeRoad Raises $ 5 Million in Series-A Funding from Matrix Partners and LightSpeed Ventures
LimeRoad is a social platform targeted at the intelligent woman of today with a wide range of carefully selected retailers, enabling customers to discover the best of lifestyle products across categories like apparel, accessories, home and non-perishable food. As they put it, “LimeRoad is a fun and exciting way to discover, share and shop.” In an announcement today, Matrix Partners said that it has co–led a $ 5 million first round of institutional funding of the parent company of LimeRoad.com, with Lightspeed Venture Partners.
LimeRoad.com is a brand owned by A.M. Marketplaces Pvt. Ltd. Suchi Mukherjee the founder & CEO of LimeRoad.com has previously been a senior executive at leading consumer internet companies such as eBay, Skype and Gumtree. “We are on a journey to build the most extensive and engaging lifestyle platform ever. Our sole objective is to make the user experience on LimeRoad so delightful, that we become the destination for women to find gorgeous yet affordable products. In Matrix and Lightspeed we have found the right partners who have a deep understanding of the online sector in India.” said Suchi.
The shopping experience on LimeRoad allows one to shop-by-city, shop-by-brand, or shop-by-flagship store, where one can browse and connect with shops, brands and retailers of your choice. “Women in India contribute under 30% of the revenue for many leading sites today but will play a significantly larger role as they discover new brands and fashion trends online as has been the trend worldwide where they contribute a majority of shopping online. It is our privilege to be associated with Suchi Mukherjee and the team at LimeRoad who are building a highly differentiated curated shopping platform for the modern Indian woman.” said Avnish Bajaj, Managing Director, Matrix India.
“We are thrilled to partner with the LimeRoad team to help bring this innovative shopping experience to women. We believe their focus on delivering a differentiated experience through a technology and design-led approach will shape the evolution of commerce in India.” said Bejul Somaia, Managing Director, Lightspeed Venture Partners.